• Hyundai Brings The XCIENT Power At The 2017 PHILCONSTRUCT

      PASAY CITY, Manila – Hyundai Asia Resources Inc. (HARI), the Philippines’ official distributor of Hyundai passenger and commercial vehicles, will be introducing the New Generation of the Hyundai XCIENT heavy-duty truck at the 2017 PHILCONSTRUCT Construction Show which will be held at the World Trade Center & SMX Convention Center, SM Mall of Asia from January 6 to 9, 2018.   PHILCONSTRUCT is the biggest construction show in the country. It caters both to the heavy equipment and machinery, …

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  • Hyundai Dream Center Philippines: Hyundai's Christmas Gift to our Underprivileged Youth

    (L-R) HARI Chairman Emeritus Richard L. Lee, HARI President and CEO Maria Fe Perez-Agudo, Plan International Philippines Country Director Dennis Guy O’Brien, and Plan International Korea External Relations Team Manager Choi Yun Sung

     

    December 5, 2017– Hyundai Asia Resources Inc. (HARI), the Philippines’ official distributor of Hyundai passenger and commercial vehicles, joined forces with the world’s third largest vehicle manufacturer, Hyundai Motor Company of South Korea (HMC) in …

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  • Hyundai Sparks GREEN Revolution in Marikina City

    At the Groundbreaking Ceremony of Hyundai Marikina were: (L-R) Hyundai Asia Resources, Inc. (HARI) SVP – Trade Operations and Development Cluster Numeriano Cortez, Jr., Marikina City Business Permits and Licensing Office Department Head Atty. Nancy Teylan, Marikina City First District Representative Bayani Fernando, Marikina City Mayor Marcelino Teodoro, Shaw Automotive Resources, Inc. (SARI) President Felix Limcaoco III, HARI President and CEO Ma. Fe Perez-Agudo, HARI EVP and CFO Ladislao …

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  • HARI grows by 12% in November with Grand Starex and Accent; H100 stages grand recoup

      “2017 PROVED TO BE UPBEAT FOR Hyundai, reflecting our driven and empowered industry. We expect to maintain this growth momentum, thereby contributing to the overall growth of the economy for 2017.” --Ma. Fe Perez-Agudo, HARI President and CEO   Performance and Drivers   Hyundai Asia Resources Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, registered positive year-to-date growth in Passenger Car (PC) and Light Commercial Vehicle (LCV) sales, growing by 12% …

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  • Hyundai Gears Up for 2018: Focused to Meet a Wide Range of Demands in Transport and Mobility

      Hyundai Asia Resources, Inc. (HARI), the Philippines’ official distributor of Hyundai passenger and commercial (trucks and buses) vehicles, gears up in anticipation of the government’s intensified push for infrastructure in 2018. With its line of passenger cars, commercial, and special vehicles braced for a wide range of mobility and payload requirements, HARI underscores its role as the Filipino’s lifetime partner to success.   “We are broadening our corporate horizon at a very opportune …

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HYUNDAI SALES UP 6% IN JULY

 “As Hyundai sales cruised through another month in a positive note, HARI is expected to maintain its solid pace for the remainder of the year buoyed by strong growth in the economy fueled by robust household consumption.”

- Ma. Fe Perez-Agudo, HARI President and CEO

 

Performance and Drivers

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, registered a promising 6% year-on-year growth in July to a total of 1,952 units.

 

Hyundai’s positive sales track was sustained by brisk sales from the Passenger Car (PC) segment. PC sales hit a total of 1,411 units in July, reflecting 33% growth in sales. The strong showing from PCs has managed to boost its year-to-date performance by 22% to a total of 9,307 units. The Korean brand’s PC sales was kept healthy by the outstanding performance from the EON and Accent, both of which posted 191% and 69% year-on-year growth in July.

 

However, Light Commercial Vehicle segment (LCV) was unable to keep pace with the stellar growth of the PC segment. Sales for the LCV front dropped by 31% to only 541 units sold in July. Meanwhile, the year-to-date sales performance of LCV segment declined by 18% totaling to 4,296 units. Notwithstanding the LCV segment’s lackluster performance, the Grand Starex outperformed with 34% growth in sales for the month of July banking on its established brand presence in the Philippines.

 

Over-all, Hyundai’s sales tally for the first seven months of the year reached a total of 13,603 units or up by 6% compared to the same period last year.

 

Sales and Economic Outlook

The Bangko Sentral ng Pilipinas (BSP) has decided to raise interest rate by 25 basis points as a pre-emptive response to temper the expanding inflationary environment. According to the BSP, notwithstanding the higher interest rate outlook, the economy is still expected to hit the 6.5% to 7.5% growth target this year. Consumer spending is seen to remain strong for the rest of the year due to the sustained US dollar remittance inflow from OFWs and the support from the BPO sector.

 

The automotive industry is expected to hit another double-digit growth this year due to favorable macroeconomic fundamentals.

 

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